E79 Gold Mines Limited reported significant new results from air-core drilling at its Laverton South Gold Project in WA, where recent drilling has intersected multiple zones of gold mineralisation. The Laverton South Project, with an area of 355km, covers a southern portion of the Laverton Tectonic Zone (`LTZ') approximately 130km east-northeast of Kalgoorlie, within the major gold producing Archean Yilgarn Craton of Western Australia. Pinjin (E28/2283, E28/2284, E28/2375, E31/0999, E31/1005, E31/1007, E31/1056, E31/1082) E79 100%.

E79 Gold recently completed 176 air-core holes for 14,350m in a follow-up programme to in-fill and extend previous gold anomalism at Target 3. The initial 80 holes of this follow-up programme, which were released to the market on 10 November 2022, identified two zones of anomalous gold, the Central Zone, showing wide intervals of anomalous gold to end-of-hole, and the narrower, higher-grade Western Zone. This announcement details results for the next 50 holes from the program, where drilling has identified a new Southern Zone with high-grade gold results. Assay results confirm this Southern Zone sits within the broader 2,600m strike length of gold anomalism, sits to the east of a magnetic unit and is supported by `pathfinder' elements in Sn, Cu, Pb and W. The magnetic unit also shows elevated Ni and Cr, indicating an ultramafic unit, which appears to be a focus for the gold mineralisation/anomalism.

Best results include: 3m @ 1.55 g/t Au from 92m (22LRAC369) including 1m @ 3.88 g/t Au from 94m to end-of-hole 6m @ 0.27 g/t Au from 80m (22LRAC392) to end-of-hole; 4m @ 3.20 g/t Au from 92m (22LRAC394); 4m @ 0.21 g/t Au from 92m (22LRAC395). Both of the >3 g/t Au zones are within quartz veined intervals within basalts and are located near the contact of an ultramafic unit. Further to the north within the Central Zone, the gold anomalism is thicker and associated with a granite greenstone contact with the character of the alteration mineralogy showing evidence of fluid flow and the mixing of oxidised and reduced fluids.

This type of fluid mixing is well noted as a very efficient mechanism for the precipitation of gold from the mineralising hydrothermal fluids. Drill assays for the southernmost line of drilling remain pending at the time of this release. A second recent air-core drilling program, targeting gold along the eastern side of the intrusion at Target 4, has also been completed with 95 holes drilled for 3,905m.

Assays from this program are pending. Lake Yindana covers an area of 215km in the southern portion of the +30Moz LTZ, approximately 130km east-northeast of Kalgoorlie. The Project consists of a large untested greenstone belt, defined by corroborating magnetics and gravity data, as well as historic drilling, which runs for over 25km through the tenement.

Lithologies from the historic drilling show gabbro, ultramafic and granitic gneiss, with the latter being a similar host rock to Ramelius Resources' Lake Rebecca deposit, located 9km to the north-west. In addition, interpretation of recent gravity data suggests the presence of intrusion-related targets within the greenstone stratigraphy. E79 Gold believes that the largest deposits are typically found early in new exploration search spaces, and the recently identified greenstone belt at Lake Yindana represents an exciting `first mover' opportunity.

Murchison Project. Jungar Flats: (E51/1975, E51/1803, E51/1848, E20/0926, E51/2122) 100%, (E51/1681) 100% of Mineral Rights (excluding iron ore and ferrous minerals). The Jungar Flats Project, in the North Murchison region, is located 70km west of Meekatharra and 45km north-northeast of the 2.8Moz Big Bell gold deposit.

The Project tenure covers an area of 541km, contains approximately 90km of strike of the highly prospective Big Bell Shear, and straddles a narrow north-south trending greenstone belt. The area is prospective for gold, base metals, iron ore and PGE's.